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Tsy slipped out of its tight Asia...>

US TSYS SUMMARY: Tsy slipped out of its tight Asia range moving higher as
European bond markets found an early bid. A 2.5k TYM8 block at 119-06 which
appeared to be a buy also underpinned move lower in yields.
- 10-yr Tsy note yield though remains just above the 3.0% level for now at
3.009%, down 1.7bps from Wednesdays close, while the yield curve is marginally
flatter as 2-yr lags.
- Tsys operated in a tight range in Asia-Pacific dealing, with the 10-Year
benchmark Tsy yield consolidating above 3.00% and the yield curve steepening a
little, as the shorter end garnered a small bid in late Asia dealing.
- The Eurodollar strip has traded in lacklustre fashion but has squeezed higher
during London session, with the white contracts unchanged to 0.5 tick higher,
reds 0.5 to 1 tick higher and greens & blues 0.5 tick higher. Volumes have been
light though.
- Traders await the ECB MonPol decision, US jobless claims, durable goods data &
7-Year Note supply on Thursday, ahead of Friday's initial US GDP estimate.

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